Announcements

PNX has received assays from a further 10 holes drilled as part of a 30 hole infill and extensional drill program at the Iron Blow VMS deposit, with excellent results: 33.6m @ 12.1% Zn Eq (6.28% Zn, 2.34g/t Au, 246g/t Ag, 1.45% Pb, 0.25% Cu) from 180.0m in IBDH041, including; 11.13m @ 32.8% Zn Eq (17.54% Zn, 6.10g/t Au, 668g/t Ag, 3.57% Pb, 0.69% Cu) from 180.9m, and; 44.56m @ 7.2% Zn Eq (4.30% Zn, 2.07g/t Au, 81g/t Ag, 0.43% Pb, 0.35% Cu) from 219.3m in IBDH041 11m @ 7.4% Zn Eq (0.60% Zn, 0.63g/t Au, 332g/t Ag, 1.31% Pb,

Final assay results from Mt Bonnie drill program - two diamond holes drilled for the purpose of providing material for metallurgical analysis yielded continuing excellent results. Significant intercepts included 16.6m @ 4.24% Zn, 1.74g/t Au, 137g/t Ag, 0.86% Pb, 0.21% Cu from 26.1m in MBRC039D, including 6.9m @ 8.28% Zn, 1.92g/t Au, 177g/t Ag, 1.57% Pb, 0.42% Cu from 31.8m  

PNX has successfully completed the 5500 metre infill and extensional drill program at the Iron Blow VMS deposit on schedule and budget. The program was designed to upgrade confidence in the 2014 Mineral Resource estimate and the updated resources is expected to be completed in March 2017. Assay results from all remaining hole due from end of January 2017.  

PNX has intersected gold and base metals mineralisation in its first drill program at the Moline Exploration Project, approximately 65km to the east of the Hayes Creek Project. The Moline Project comprises four key prospects: Moline, School, Tumbling Dice, and Hercules. Zinc-gold-silver-lead rich sulphides in Moline prospect drill-hole MORC003, including: 2m @ 4.66g/t Au, 177g/t Ag, 4.92% Zn, and 4.41% Pb from 8 A broad zone of near-surface gold and zinc mineralisation drilled at the Tumbling Dice prospect, MORC010 intersected: 30m @ 2.29g/t Au and 0.70% Zn from 78m down hole, including 3m @ 6.58g/t from 100m

PNX has completed the first stage of its farm-in agreement with Newmarket and has now earned a 51% interest in 19 ELs and 4 MLs incorporating the Burnside, Moline and Chessman Projects covering approximately 1,700km2 in the Pine Creek region of the NT

Share placement to sophisticated investors at 2.0 cents to raise $2.6 million

PNX has intersected high-grade gold mineralisation in its first two holes drilled at the Moline Exploration Project (MLN1059), located less than 1.5km off the Kakadu Highway, and approximately 65km to the east of the Hayes Creek gold-silver-zinc project in the NT.  MORC002 intersected 7m @ 11.9g/t Au from 115m down hole, including 3m @ 23.7g/t from 116m